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If you’re considering buying a house, you may be looking for ways to keep costs low. One of the options for many potential homebuyers is to cut out the middleman and consider buying a house without a realtor. But is it worth the risk? Read this before moving forward to find out the truth about buying a house without a real estate agent.
As the buyer, you aren’t the one to pay the commission to your realtor in most scenarios. The seller most frequently pays that, so you won’t be out any extra money by using a reliable agent.
The MLS, or Multiple Listing Service, where realtors list homes for sale, hides some details from the public. Only licensed realtors have access to neighborhood and home access codes, seller contact information, and specific instructions.
Experienced agents have access to a large network of contacts that can help them find off-market listings, insider tips on homes about to list, and an advantage when competing offers come in from multiple buyers.
The risks of buying a house without a realtor are many. Most homebuyers only have very basic knowledge regarding the process of buying a home. A real estate agent’s expertise includes making appointments for showings, writing an offer, price and contract negotiations, understanding issues with appraisals and inspections, knowing local laws and rules regarding real estate transactions, etc.
You can buy a home without an agent, but you’re taking a significant risk in this competitive market if that’s the path you choose. With home sales the way they are, a good realtor can make the difference between you getting a home and not. Our team can attest to the power of a good real estate agent. When you’re ready to move forward with the home buying process, start with a good realtor and then contact Midland Mortgage Corporation for all the loan information you need.